Force majeure starts at Grasberg; did BHP Billiton settle supply contracts too soon?

摘要

Should BHP Billiton - the owner of Escondida, the world's largest copper mine - have waited for an update on the situation atthe second-largest mine before agreeingsupply contracts forthe second half oftheyear? That was the question the copper concentrates market was asking on WednesdayJune13, as Freeport-McMoRan declared force mojeure at the Grasberg mine in Indonesia.